Daily Alpha · X
· Post-Market Alpha · by Buzzberg Research
Optical and memory supply-chain revisions dominate high-quality X; copper breaks records while macro voices split on Fed and Treasury supply. AI power infrastructure remains the favored explicit long.
Themes on this desk
Optical TAM raised
Goldman lifted 2026-28 optical transceiver TAM by 33%/81%/115%; Evercore sees CPO at scale only in 2027/28, preserving pluggable and AEC demand near term.
Memory/HBM
Memory share of AI infrastructure projected to rise from 14% in 2025 to 57% in 2027; HBM sold out and CXMT LPDDR6 shortage shifts demand to SK hynix.
AI power bottleneck
BlackPantherCap owns BE, NBIS, IREN and CIFR as highest-conviction positions on power infrastructure being the real AI constraint.
Ticker heat
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Top voices by smart followers and alpha score
Market Radar →Evercore: CPO adoption delayed, pluggables remain dominant
Evercore ISI says co-packaged optics (CPO) at scale won't occur before 2027/2028 due to yield and cost concerns; AECs and pluggable form factors remain prominent for next couple years.
Evercore ISI: CPO at scale to not occur before 2027/2028 with yield and cost concerns.
Suggests near-term demand for pluggable transceivers remains strong, while CPO-related companies may see delayed benefits.
Watch Watch for CPO technology milestones and adoption announcements from major cloud providers.
Source →Memory share of AI infrastructure spending to surge
pequityresearch cites KB Securities projection: memory share of AI infrastructure investment rises from 14% in 2025 to 40% in 2026 and 57% in 2027. Tickers listed: DRAM, EWY, MU, SNDK, DISK.
KB Securities: share of memory in AI infrastructure investment is projected to rise from 14% in 2025 to 40% in
Indicates accelerating memory demand in AI, benefiting memory makers and related ETFs.
Watch Monitor memory pricing and capex guidance from MU and SNDK; if share gains materialize, earnings should reflect.
Source →Goldman Sachs raises optical transceiver TAM forecasts
GS revised global optical transceiver TAM up by 33%/81%/115% for 2026-28E, reaching $68B/131B/148B, driven by AI server demand and higher transceiver usage per GPU. 800G+ segment to grow at 69% CAGR.
optical transceiver market to reach $68B/131B/148B.
Indicates stronger-than-expected demand for optical components, benefiting LITE, COHR, AAOI.
Watch Monitor company earnings and guidance for alignment with these higher forecasts.
Source →AI data center power bottleneck thesis with highest-conviction holdings
BlackPantherCap argues the $7T AI spending boom's bottleneck will be power infrastructure, not compute demand, and discloses owning BE, NBIS, IREN, and CIFR as highest-conviction positions.
That’s a big part of why I own $BE, $NBIS, $IREN and $CIFR as my highest conviction.
This is a clear directional call on power and energy infrastructure names as key AI beneficiaries, with explicit position disclosure.
Watch Track data center power demand, grid infrastructure investments, and earnings reports from BE, NBIS, IREN, and CIFR.
Source →Memory layer has pricing power; HBM sold out
RosannaInvests states memory is the layer with pricing power right now, with HBM sold out.
$MU $SNDK $SKHY The layer with pricing power right now. HBM sold out. 🔦 PHOTONICS:
Indicates strong near-term pricing for memory makers, especially those with HBM exposure like MU, SNDK, SK Hynix.
Watch Track memory contract prices and HBM supply-demand balance; monitor earnings guidance from memory makers.
Source →